Tracy Prandi-Yuen leads Boku’s global merchant partnerships, leveraging 20+ years of experience across Visa, Meta, and emerging markets.
Under her leadership, Boku has forged alliances with Fortune 500 retailers and hyperlocal fintech’s alike, united by a mission to make payments equitable.
The fintech industry pours billions into innovation—digitalization, faster payments, AI, blockchain.
But what if the real advantage isn’t in the code itself, but in who the code serves?
Globally, 1.4 billion people remain unbanked with no access to financial services, and women are disproportionately affected. Women are significantly less likely than men to have bank accounts, representing a vast, untapped market. Designing financial products that meet women’s needs isn’t just inclusive. It’s smart business.
The ROI of reaching underserved women is increasingly clear. According to the Women Entrepreneurs Finance Initiative (We-Fi), closing gender gaps in entrepreneurship could unlock $5–6 trillion in global economic gains and significantly boost employment, especially for women, as women-led businesses are far more likely to hire other women. Economically empowering women also delivers broad social dividends, as women tend to reinvest around 90% of their income—compared to 35% for men—into education, health, and the wellbeing of their families and communities. But to unlock this potential, the financial system must reflect the people it aims to serve.
Within the banking and finance industry itself, representation falls short. Women hold just 18% of senior leadership positions in finance globally, with only 5% reaching the top executive level. This lack of diversity impacts whose perspectives are heard, whose problems are prioritized, and ultimately, who gets served.
Innovation, no matter how advanced it is, has limited value if it only benefits the few. For fintech to truly lead the future of finance, it must broaden its scope, both in product design and in who has the power to shape it. Inclusive leadership and design are essential for relevance, growth, and lasting impact.
The Multiplier Effect of Inclusion
On-the-ground results tell a compelling story. In rural communities across South Asia and Sub-Saharan Africa, when women gain access to tailored financial tools, even basic savings accounts, they consistently reinvest in ways that multiply impact. A modest increase in annual savings is often redirected toward education, healthcare, and microenterprise.
Yet, financial tools are still built around a default male user, overlooking differences in how women earn, save, and access money. Factors like informal or part-time work, and reliance on shared or low-tech devices can shape how women interact with financial services.
When products aren’t designed with women in mind, the industry misses out on impact, loyalty, and long-term growth. Real progress happens when leadership moves beyond individual agendas and embraces collaborative thinking. Teams that take the time to “zoom in” on the lived experiences of underserved users, and “zoom out” to understand how those insights can scale, are better positioned to build solutions that resonate widely. Inclusive design transforms niche challenges into broad, market-shaping innovation. It’s the multiplier effect in action.
Building for the Underserved = Building for Growth
At Boku, I’ve witnessed payment forms like mobile wallets and direct carrier billing unlocking markets overlooked by traditional banking. Our global payment infrastructure, spanning 70+ countries and 250+ local payment methods, enables people to pay for their favourite goods and services using payment instruments that are most convenient and familiar to them.
In countries like Indonesia and Nigeria, many women entrepreneurs run cash-based businesses with little access to banks. By partnering with local fintechs and merchants, women can accept digital payments with no bank accounts needed. This unlocks faster adoption than card-only models and delivers real impact: merchant revenues grow, local families increase access to health and education services, and micro-businesses reach global platforms.
Although many countries have removed legal barriers requiring a husband’s permission for women to access financial services, some restrictions remain. Social norms often view finance as a male role, with stigma and safety concerns limiting women’s ability to use banks. Here, fintech and local payment methods provide vital, accessible alternatives that help empower women and their communities.
Inclusivity isn’t just Corporate Social Responsibility (CSR)—it’s a growth engine. Designing financial tools to meet people where they are doesn’t just add users; it opens new markets.
Three Actions for Fintech Leaders
- Design for Edge Cases: Innovation often springs from the margins. Women represent a powerful economic force. Products built for underserved women can unlock mass-market solutions and new revenue streams. What works for those with constraints often works better for all.
- Partner Locally: Collaborate with community groups, NGOs, and telcos to understand cultural and logistical barriers, whether lowering remittance costs for migrants or expanding access in rural areas.
- Close the Pay Gap: Inclusive products start with inclusive teams. Addressing gender pay gaps ensures those building tools reflect the diversity of users. Diverse teams consistently create smarter, more effective solutions.
The Bottom Line
Brands treating inclusion as a “nice-to-have” are already losing ground. Those designing for women? They’re capturing markets that legacy finance overlooked. Real innovation in fintech means reaching the people who’ve been left out. At Boku, that’s the future we’re building toward—one that includes women as core users, not edge cases.
